Employees Retirement System of Texas purchased a new position in shares of Callon Petroleum Company (NYSE:CPE) in the second quarter, according to its most recent filing with the SEC. The firm purchased 240,000 shares of the oil and natural gas company’s stock, valued at approximately $2,546,000. Employees Retirement System of Texas owned 0.12% of Callon Petroleum at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Green Square Capital LLC acquired a new stake in shares of Callon Petroleum in the 1st quarter valued at about $132,000. FFT Wealth Management LLC acquired a new stake in shares of Callon Petroleum in the 2nd quarter valued at about $113,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Callon Petroleum in the 1st quarter valued at about $143,000. M&T Bank Corp grew its stake in shares of Callon Petroleum by 20.5% in the 1st quarter. M&T Bank Corp now owns 12,946 shares of the oil and natural gas company’s stock valued at $170,000 after buying an additional 2,203 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Callon Petroleum in the 2nd quarter valued at about $148,000.
Callon Petroleum Company (NYSE:CPE) opened at 11.29 on Wednesday. The firm’s 50 day moving average is $10.72 and its 200 day moving average is $11.24. The company has a market cap of $2.28 billion, a PE ratio of 21.50 and a beta of 1.43. Callon Petroleum Company has a 52-week low of $9.34 and a 52-week high of $18.53.
Callon Petroleum (NYSE:CPE) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). Callon Petroleum had a net margin of 34.61% and a return on equity of 4.16%. The firm had revenue of $82.30 million for the quarter, compared to analysts’ expectations of $83.89 million. During the same quarter in the previous year, the company earned ($0.61) EPS. The company’s quarterly revenue was up 82.5% compared to the same quarter last year. Analysts forecast that Callon Petroleum Company will post $0.48 EPS for the current fiscal year.
Several brokerages have recently commented on CPE. Jefferies Group LLC began coverage on Callon Petroleum in a research note on Monday. They issued a “buy” rating and a $16.00 target price for the company. BMO Capital Markets set a $15.00 target price on Callon Petroleum and gave the company a “buy” rating in a research note on Monday, June 26th. Northland Securities set a $18.00 target price on Callon Petroleum and gave the company a “buy” rating in a research note on Monday, August 21st. BidaskClub downgraded Callon Petroleum from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Finally, Zacks Investment Research upgraded Callon Petroleum from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Callon Petroleum currently has an average rating of “Buy” and a consensus price target of $17.50.
Callon Petroleum Company Profile
Callon Petroleum Company is an independent oil and natural gas company. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas properties. The Company focuses on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin.
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